IRA
Terry, I’m 81 and my daughter recently put me in the stock market. She thought I’d earn more money than I would in my Intelligent Portfolio with Schwab. I recently lost about $9000 in a short time with Oracle. The stock is down. Should I bail now or hang in there?? I’m beside myself….FYI my daughter has done quite well with her investments and thinks I should hang on but I’m 81. Lmk what you think and thank you.
Terry Says
I think you should find a different investment advisor. Your daughter is losing her inheritance — but YOU are losing sleep!!
At this stage of life, and of the stock market, I think you should be mostly in safe money market deposit accounts. It’s not about how much you can make, but about how much you can lose.
Cut your losses. This is not a commentary on this one stock. It is a commentary about market risk at this stage of life!!
